Shares of IDO Security Inc. (OTC: IDOI), designer, developer and marketer of shoe scanning devices for the homeland security and loss prevention markets, rose sharply in trading today.
IDOI shares ended the day 6% higher at $0.371 on above average volume of 3.66 million. Despite todayâ€™s gains, the stock has fallen nearly 40% this week.
IDO Security recently announced that it installed additional MagShoeâ„˘ systems in government offices throughout Israel. The latest order follows successful installation of the MagShoe in 2007 at other Israeli government venues in Jerusalem.
IDOIâ€™s Marketing Manager Avishai Rotshtain said that the order is a vote of confidence by the Israeli security establishment in the MagShoe as a tool of choice to detect metallic objects in lower parts of the body. Rotshtain further said that the order is a confirmation of a long and ongoing relationship between Israeli security officials and IDOI.